New MTI owner vows to reignite its growth

EMC partner acquired by former Trustmarque owner Endless

MTI has become the latest sizeable UK reseller to change hands, with former Trustmarque owner Endless stepping in to acquire the £70m-turnover storage specialist.

Endless has pledged to take MTI to a "new era of growth" after grabbing the Dell-EMC partner from current US private equity owner Garnet and Helfrich Capital. The deal value was not disclosed.

Godalming-based MTI saw UK revenues slide by five per cent to £40.8m in its fiscal 2016, and it also operates in France and Germany.

Endless' takeover comes seven months after it exited its investment in Trustmarque via a trade sale to Capita. The £57m deal would have represented a huge mark up on its initial investment.

The Leeds-based private equity firm is also flush from selling another of its tech interests, Liberata, last year, as well the West Cornwall Pasty Company.

In a statement, Keith Clark, CEO of MTI, said: "Endless' ownership of MTI Europe will allow the business to grow organically and through further acquisitions over the coming months. This presents an exciting opportunity for us all at MTI Europe, our employees, customers and partners."

Leeds-based Endless' investment director Ed Ransome, who led the transaction, said the acquisition gels with its strategy to invest in profitable businesses operating across Europe.

"Under the leadership of Keith and his team, MTI has generated strong profits for many years," he stated.

"We will draw upon our experience as a transformational investor, and from owning similar companies in the past, to support him and his team in taking the business to a new era of growth through both organic means and from pursuing add-ons."